IMPORTANT QUESTIONS ON RBI

Important Question on RBI

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            Hi friends i am sharing here some important points about RBI which is an important topic for upcoming exams like SSC CGL,  SSC CHSL, RRB, RRB NTPC, SBI PO etc

 Reserve Bank of India

 Reserve Bank of India was established by the British government in 1935, under the recommendation of HILTON COMMISSION ALSO CALLED ROYAL COMMISSION. Head of Reserve Bank of India is the Governor who is chief executive of India’s central bank. The term of the Governor is 3 years. Till now Government has appointed 25 Governors.RBI is known as Banker’s Bank.

CRR:
Cash Reserve Ratio (CRR) is the funds to be kept with the RBI by banks, which is not less than 4% of total NDTL, i.e.Net Demand and Time Liabilities on a fortnight basis.

Repo Rate:

The rate at which the commercial banks borrows money from RBI.

Present Repo Rate is  6.25%

Reverse Repo Rate:

The rate at which commercial banks lends money to RBI.

Present Reverse Repo Rate is  6%

SLR Rate:

Statutory liquidity ratio is the amount that the commercial banks require to maintain in the form of gold or govt. approved securities, which can be converted into cash instantly.

Present SLR Rate is  19.25%

FUNCTION OF RBI:

1.FINANCIAL SUPERVISION
2.MAKING MONETARY POLICY
3.BANKER TO BANK
4.BANKER TO THE GOVT.
5.CURRENCY ISSUER.

Some important points on RBI

  1. Reserve Bank of India formed in 1935 April 1.
  2. Reserve Bank of India Nationalised in 1949.
  3. First Headquarters of RBI was in Kolkata.
  4. Headquarters of Reserve Bank of India moved to Mumbai in 1937.
  5. Sir Osborne Smith is the first Reserve Bank of India Governor.
  6. State Bank of India acts as RBI’s Agent where there is no office for RBI.
  7. First Indian RBI Governor – C.D.Deshmukh
  8. Banking Ombudsman Scheme is introduced by the Reserve Bank of India

RBI NEW GOVERNOR

  The government of India has appointed Shaktikanta Das as 25th Governor of Reserve Bank of India On 12th December 2018. Shaktikanta Das is a retired 1980 batch Indian IAS officer of Tamil Nadu cadre. Born on 26th February 1957 in Odisha.

His earlier post is as follows

  1. Sherpa of India to the G20.
  2. Member of fifth finance commission.
  3. Economic affairs secretary of India.
  4. Revenue secretary of India.
  5. Fertilizers secretary of India.

LIST OF RBI GOVERNORS

 

S.NO GOVERNOR PERIOD
1 Sir Osborne Smith 1935-1937
2 Sir James Taylor  1937-1943
3 Sir C D Deshmukh  1943-1949
4 Sir Benegal Rama Rau 1949-1957
5 K G Ambegaonkar JAN TO FEB IN 1957
6 H V R IengIyengar 1957-1962
7 P C Bhattacharya 1962-1967
8 Lakshmi Kant Jha 1967-1970
9 B. N. Adarkar MAY TO JUNE IN 1970
10 S Jagannathan  1970-1975
11 N C Sen Gupta MAY TO AUG IN 1975
12 K R Puri 1975-1977
13 M Narasimham MAY TO NOV In 1977
14 I. G. Patel 1977-1982
15 Dr.mohan Singh 1982-1985
16 A Ghosh  JAN TO FEB IN 1985
17 RN Malhotra 1985-1990
18 S Venkitaramanan  1990-1992
19 C Rangarajan  1992-1997
20 Bimal Jalan 1997-2003
21 Y V Reddy 2003-2008
22 D. Subbarao  2008 to 2013
23 Raghuram Rajan 2013 to 2016
24 Urjit Patel 2016 to 2018
25 Shaktikanta Das incumbent

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Rajesh